Recognizing a good manager in independent wealth management is difficult. Indeed, many financial professionals with qualifications and diplomas can hide behind the profession of “wealth management consultant”.
However, be aware that the recommendation is a very good indicator for choosing your advisor. Of course, make sure the professional has been around long enough to make the recommendation worthwhile. With the best financial advisors for doctors the persons related to the trade happens to be important now.
In addition, word of mouth is the best vehicle for credibility for a wealth management advisor. The majority of Wealth Management clients come from the recommendation of relatives.
Make sure the manager can bring you a heritage solution
Management consultants may have specialties (taxation, real estate, financial investments, inheritance and inheritance, legal counsel or mortgage broker) or be a general practitioner.
Some independent asset managers are very strong in their field:
Financial markets, investments and financial products such as life insurance, optimization of savings or legal and tax issues (reduce its IR tax or IFI- ISF, inheritance, transmission to the family of the patrimony of the entrepreneur etc.).
- You must therefore know whether, as a client investor, your financial, and patrimonial or tax problem to be solved by the services offered by your consulting firm.
- A tip, also check if the wealth manager is interested in long-term support.
- Some finance professionals have a commercial approach and are interested only in the short-term sale to the long-term financial advice profile.
Responsiveness is an asset
Because the best opportunities in real estate and financial markets are not there, your wealth advisor needs to be responsive and available.
He must be at your disposal to answer your patrimonial questions and put in place the strategies he has selected for you.
Therefore, being accompanied in the long-term by a financial adviser who does not respond quickly to your requests exposes you to poor financial performance or even losses.
Indeed, the best deals in real estate (including new properties in law Pinel) leave in a few hours. The timing of entry and exit on the financial markets condition your gains and losses, the life insurance companies know it well.
Check your board’s clearances
The wealth management professional must provide you with a document called “contact document” at your first appointment. This document summarizes all accreditations of the heritage consultant.
Know that a CIF adviser, “investment advisor” will, at first sight, have the necessary skills to offer you all the products (financial and real estate investments) available on the wealth management market.
Other authorizations may be held by the advisor:
- Intermediary in banking operation and payment services (IOBSP)
- Real estate certificate
- Appropriate Jurisdiction (CJA)
Quality management advice is systematically based on a heritage balance sheet. The professional of the management will have to establish you a patrimonial audit to know your personal and financial situation. This is the first job of the profession of adviser.